Urban Markets: Downtown & Surrounding Areas
Condos have achieved pre-covid sales numbers as well as pricing. Deals 100% off the table (even with assignments although they’re better priced overall). All of this without open borders. Local demand. All of it. When borders open up, the condo market is going to go even more insane and entry-level buyers will likely be priced out and put back in the rental pool.

Houses aka the little engine that could and could and could and could continue to shatter record after record. Seems like $1.4mm gets you what $1mm used to get you in most urban communities. The market has levelled up and so have some buyers. The rest have gone to condos which have resulted in a spike in prices there. All local demand.

Pre-construction condos all over Ontario, aided by favourable deposit structures, are flying off the shelves with sell-out after sell-out. Access is the name of the game there. If you’re not connected with a team with high-level access like us, you’ll not win in that game.

House Average Price: $1,597,599
House Median Price: $1,501,018
298 Active Listings
106 Firm Sales This Week
Months of Inventory (MoI) ~ 0.79
Average Days on Market ~ 12 DoM

Condo Average Price: $814,678
Condo Median Price: $710,000
959 Active Listings
217 Firm Sales This Week
MoI ~ 1.35
Average Days on Market (DOM) ~ 18.15

Urban North: Rosedale, Deer Park, Moore Park, Forest Hill, & Lawrence Park
House prices have been creeping up steadily here for the past few weeks in a row but that’s mostly due to some huge sales this week. But that means big money is still being spent and the entry-level product here is getting closer and closer to $3mm. Demand for these larger homes is being fueled by the massive equity earned by move-up buyers from their homes further south. Many builders realizing the demand are also entering the mix further adding to the demand. This activity should continue into 2021

Condos are the real story in this area as months of inventory have plummeted over the past few months. New listings aren’t replenishing as quickly as sales are happening so we should see some serious price gains in condo land in these north urban communities as we progress further into 2021.

House Average Price: $3,203,916
House Median Price: $2,737,514
101 Active Listings
18 Firm Sales This Week
Months of Inventory (MoI) ~ 1.42

Condo Average Price: $1,478,062
Condo Median Price: $1,242,500
173 Active Listings
16 Firm Sales This Week
MoI ~ 2.85

Leaside & Davisville
Massive demand here across the board for houses and condos with no end in sight. The demand is mostly from move-up buyers from more urban communities. Now that condos are selling for big numbers again, it’s allowing many move-up buyers to unlock their equity and get into the house of their dreams. The Leaside area is also quite popular with overseas buyers at the moment so once borders open up, you can expect the $2mm house to be a thing of the past here.

House Average Price: $1,934,876
House Median Price: $1,888,000
35 Active Listings
16 Firm Sales This Week
Months of Inventory (MoI) ~ 0.93

Condo Average Price: $751,243
Condo Median Price: $792,450
76 Active Listings
14 Firm Sales This Week
MoI ~ 1.27

Birch Cliff
Birchcliff aka The Lawrence Park of the East continues to be on the radar of many buyers looking for larger lots that are relatively close to Toronto’s urban centre. With prime Birchcliff being a mere 11kms from downtown with amazing access to transit there’s no surprise here. Prices here should continue to move up for the remainder of 2021.

House Average Price: $1,079,000
House Median Price: $912,500
17 Active Listings
3 Firm Sales This Week
Months of Inventory (MoI) ~ 0.28

Thanks so much for your energy and attention! If you need clarity on any of this or want to talk about your specific situation then call/text/email anytime: ara@thespringteam.ca or 416-434-1511

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